Bank Loans for Paint and Wallpaper Stores

With these bank loans for paint and wallpaper stores, the SBA guarantees the lender that the loan will be repaid. This paint and wallpaper stores loan for $225,000 was given to a Vermont entrepreneur in 2004.

This small firm knew how to go about getting a business bank loan. Based in Morrisville, Vermont, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Union Bank, based in Morrisville, Vermont.

SBA Loan Borrower

COMPANY TYPE: PAINT AND WALLPAPER STORES
MORRISVILLE, VT 05661

SBA Loan Lender

UNION BANK
20 LOWER MAIN ST
MORRISVILLE, VT 05661

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444120 - Paint and Wallpaper Stores

Loan Approval Date

12/21/2004

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

SBA Banks in Morrisville, Vermont

Getting an SBA Loan in Vermont

Union Bank Small Business Loan

Bank Loans for Paint and Wallpaper Stores